Summary of Key Information:
Nature of Filing / Announcement: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding acquisition of land
Date of Board Meeting / Approval: Thursday, 13 August, 2026
Key Financial Highlights:
Capital Expenditure Approval:
- Acquisition of approximately 350 acres of land
- Total consideration: Approximately ₹70 Crores
- Location: District Janjgir-Champa, Chhattisgarh
Corporate Actions:
Land Acquisition Details:
- Transaction type: Acquisition of Land
- Parties involved: Various land owners at District Janjgir-Champa, Chhattisgarh
- Purpose: Setting up Solar Power Plant for captive consumption in the Company's Steel Manufacturing Operations
- Industry classification: Solar Power Generation / Renewable Energy
- Related party status: Not a Related Party Transaction
Other Significant Information:
Strategic Rationale: The acquisition is a key step towards the Company's renewable energy initiative and will reduce power costs for its steel manufacturing operations. The acquisition is in line with the Company's strategy to reduce power costs and foray into renewable energy.